Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
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Qualcomm Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29).
The financial data demonstrates several notable trends in income and comprehensive income items over the six-year period examined.
- Net Income
- There is a consistent upward trajectory in net income from 2019 through 2022, increasing from 4,386 million USD to a peak of 12,936 million USD in 2022. However, in 2023, net income declines sharply to 7,232 million USD before rebounding to 10,142 million USD in 2024. This suggests a cyclical variation or an impactful event affecting profitability in 2023, followed by a recovery phase.
- Foreign Currency Translation Gains (Losses)
- This component shows volatility, with losses recorded in 2019 (-110 million USD) and 2022 (-433 million USD), contrasted by gains in 2020, 2021, 2023, and 2024. The fluctuations indicate exposure to exchange rate movements that have had varying effects on financial results, notably a significant negative impact in 2022 but recovery thereafter.
- Net Unrealized Gains (Losses) on Certain Available-for-Sale Debt Securities
- The values alternate between small gains and losses through the years, with a marked loss in 2022 (-113 million USD) followed by gains again in 2023 (54 million USD) and 2024 (93 million USD). This reflects changing market conditions affecting debt securities and related valuation changes.
- Net Unrealized Gains (Losses) on Derivative Instruments
- The trend is erratic: moderate positive gains in 2019 and 2020, a loss in 2021 (-53 million USD), a large gain in 2022 (361 million USD), and then declines again over 2023 and 2024. The significant 2022 gain suggests either favorable market movements or hedging effectiveness during that year, with less pronounced impacts before and after.
- Other Gains (Losses)
- This category exhibits relatively minor fluctuations, generally close to zero, with small gains and losses alternating annually. Notably, there is a loss in 2024 (-12 million USD) after some positive values in preceding years, indicating limited but variable effects on income.
- Other Reclassifications Included in Net Income
- Figures show inconsistencies and missing value in 2022. Negative values in several years (2019, 2020, 2021) give way to a substantial positive figure in 2023 (77 million USD) before a slight negative in 2024 (-1 million USD), reflecting adjustments or reclassifications that have a minor but variable influence on net income.
- Other Comprehensive Income (Loss), Net of Income Taxes
- This line records marked swings with negative values in 2019 (-114 million USD), 2021 (-79 million USD), and 2022 (-150 million USD) but positive and substantial gains in 2020 (107 million USD), 2023 (380 million USD), and 2024 (229 million USD). The high positive values in the recent two years indicate an improvement in comprehensive income components beyond net income.
- Comprehensive Income
- Mirroring net income trends, comprehensive income grows steadily from 2019 through 2022, reaching 12,786 million USD. Thereafter, it decreases in 2023 to 7,612 million USD and rises again in 2024 to 10,371 million USD. This reflects the combined effect of net income and other comprehensive income components, underlining overall financial performance variability within the period.
In summary, the company experienced strong growth in profitability until 2022, followed by a temporary downturn in 2023, then partial recovery in 2024. Currency fluctuations and market-related valuations contribute significantly to volatility in comprehensive income. The fluctuations in derivative instruments and debt securities valuations notably influenced comprehensive income, especially in 2022 and subsequent years. Overall, the data shows resilience with signs of recovery after the observed dip, suggesting effective management of financial risks and performance over the examined period.